The V Foundation
The V Foundation reported $61.6 million in revenue and $70.6 million in expenses for the fiscal year ending September 30, 2025. Of every $100 it spent, $85.99 went to program services, $7.00 to management and general costs and $7.01 to fundraising. Its largest source of revenue was contributions and grants: 92.6% of the total. The highest compensation it reported for one person was $632,277 (CHIEF EXECUTIVE OFFICER THR: 8/25). 28 people received more than $100,000 in reportable compensation. Revenue rose 216% between FY2020 and FY2025. Source: Form 990, FY2025.
Where $100 of spending went
The fiscal year ending September 30, 2025 · Form 990, Part IX, line 25 · total expenses $71MFor context, the median across 169 covered medical research charities: $87.02 programs, $12.87 management, $0.11 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
The fiscal year ending September 30, 2025 · Form 990, Part VIII · total revenue $62MThe 990 scorecard · same measures for every charity, no grades
| Measure | FY2025 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 86.0% | 83.9% |
| Management & general Part IX 25(C) ÷ 25(A) | 7.0% | 12.4% |
| Fundraising Part IX 25(D) ÷ 25(A) | 7.0% | 0.1% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.09 | $0.01 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 92.6% | 72.7% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 0.0% | 0.0% |
| Program service revenue share Part VIII 2g ÷ 12 | 0.0% | 5.8% |
| Highest reported compensation Part VII-A, columns D–F | $632,277 | $628,890 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 0.90% | 1.94% |
| People paid over $100,000 Part VII, line 2 | 28 | 18 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 10.3 | 13.3 |
| Independent voting board members Part VI 1a–1b | 41 of 42 | 93.8% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
FY2025 · Form 990, Part III · the three largest programs by expenseIn FY 2025, the foundation awarded 37 v scholar grants to identify, retain and further the careers of talented young investigators, 17 grants in translational clinical research, 11 game-changer (designated) grants inspired by particular areas of scientific interest and/or geographic reach, 22 all-star grants to reinvest in previous v scholar or translational grant recipients, and 2 misson grants supporting educational projects to advance research processes. These grants were awards to researchers at leading institutions across 27 states and canada. The v foundation ensures that resources…
Highest reported compensation
FY2025 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| CHIEF EXECUTIVE OFFICER THR: 8/25 Director/trustee, officer, 20.00 hrs/week | $590,980 | $0 | $41,297 | $632,277 |
| CHIEF SCIENTIFIC OFFICER Key employee, 40.00 hrs/week | $315,918 | $0 | $40,697 | $356,615 |
| CHIEF DEVELOPMENT OFFICER THR: 12/24 Key employee, 28.00 hrs/week | $320,746 | $0 | $15,285 | $336,031 |
| CHIEF MARKETING OFFICER Key employee, 26.00 hrs/week | $309,660 | $0 | $19,935 | $329,595 |
| SR. VICE PRESIDENT, PARTNERSHIP Highest compensated employee, 26.00 hrs/week | $251,021 | $0 | $39,014 | $290,035 |
| CHIEF FINANCIAL OFFICER Officer, 26.00 hrs/week | $246,298 | $0 | $40,688 | $286,986 |
| SR. VICE PRESIDENT, MARKET DEVELOPMENT AND EVENTS Highest compensated employee, 0.00 hrs/week | $222,495 | $0 | $31,413 | $253,908 |
| VICE PRESIDENT, PRINCIPAL GIFTS Highest compensated employee, 28.00 hrs/week | $209,752 | $0 | $38,045 | $247,797 |
28 people received more than $100,000 in reportable compensation from The V Foundation (Part VII, line 2). Compensation of current officers, directors and key employees totaled $1.4M (Part IX, line 5).
6 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
FY2025 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b42 · 41 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aYes
- Board given the 990 before filing Part VI 11aYes
- Family or business ties among insiders Part VI 2Yes
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4No
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bYes
- Employees Part I, line 591
- Volunteers Part I, line 660
Largest outside contractors
FY2025 · Form 990, Part VII, Section B · businesses only| COYNE PUBLIC RELATIONS LLC Public relations communication agency. | $206,680 |
| THE IMAGINE GROUP LLC Print communications design and producti | $148,586 |
Individuals listed as contractors are left out. 2 contractors were paid more than $100,000 in all.
Private foundation grants it received
125 private foundations reported grants to The V Foundation totaling $6.5M on their tax year 2023 Form 990-PF returns. See which foundations, on WHOFUNDS.
Source: WHOFUNDS open grant graph, matched from Form 990-PF Part XV.
Correct a figure or respond
Every number above is copied from The V Foundation's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for The V Foundation, you can publish a response that is linked from this page.
Share or embed this breakdown
Of every $100 The V Foundation spent in FY2025, $85.99 went to programs. The full breakdown, from its IRS Form 990:
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Similar-sized charities in this cause
- Alzheimer's Disease Research FoundationWellesley Hills, MA · revenue $57M · programs 92.1% · 2025
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- Hennepin Healthcare Research InstituteMinneapolis, MN · revenue $55M · programs 92.2% · 2024
- Stanley Manne Childrens Research InstituteChicago, IL · revenue $65M · programs 56.7% · FY2025
- Dean McGee Eye InstituteOklahoma City, OK · revenue $54M · programs 68.7% · FY2025
All medical research charities · Largest charities in North Carolina
Questions people ask
How much of The V Foundation's spending goes to programs?
In the fiscal year ending September 30, 2025, The V Foundation reported that 86.0% of its $70.6 million in expenses went to program services, 7.0% to management and general and 7.0% to fundraising (Form 990, Part IX).
How much does The V Foundation pay its top executive?
The largest total compensation The V Foundation reported for one person in the fiscal year ending September 30, 2025 was $632,277, for the role of CHIEF EXECUTIVE OFFICER THR: 8/25 (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does The V Foundation get its money?
Of $61.6 million in revenue in the fiscal year ending September 30, 2025, 92.6% came from contributions and grants and 0.0% from program service revenue (Form 990, Part VIII).
Is The V Foundation a registered charity?
The IRS lists EIN 13-3705951 as a 501(c)(3) organization (publicly supported organization (170(b)(1)(a)(vi))), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- FY2025: Form 990 for the fiscal year ending September 30, 2025, object 202610479349300886 · read the filing · XML
- FY2024: Form 990 for the fiscal year ending September 30, 2024, object 202520499349301767 · read the filing
- FY2023: Form 990 for the fiscal year ending September 30, 2023, object 202430479349300248 · read the filing
- FY2022: Form 990 for the fiscal year ending September 30, 2022, object 202320469349301627 · read the filing
- FY2021: Form 990 for the fiscal year ending September 30, 2021, object 202230429349301613 · read the filing
- FY2020: Form 990 for the fiscal year ending September 30, 2020, object 202100429349300810 · read the filing
All filings for EIN 13-3705951: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.